Ogun State Government through Ogun State Property and Investments Corporation (OPIC) and Gateway Mortgage Bank (GMB) has reiterated its commitment to unlocking mortgage market opportunities, for home ownership, by launching a fresh bouquet of home finance plans, specially designed to suit aspiring home owners in the State.
The Managing Director, OPIC, Mr. Babajide Odusolu disclosed this in Abeokuta, at a press briefing, on the activities of his agency.
According to him, OPIC had designed the financial plans to enable salary earners and business owners, particularly, those in the organised sectors that could not afford outright purchase, to buy houses with ease.
The OPIC boss explained that the home financing plans were in three segments; the OPIC Advantage, OPIC Advantage Plus and Ten to Twenty year Mortgage Plans, adding that it was designed to encourage long term savings and easing acquisition.
“All the three Home Financing Plans require immediate equity deposit of 30 percent of the cost of the house, while payment of the 70 percent balance is staggered within stipulated period. The housing units are delivered within 90 days. The OPIC Advantage allows 12 months staggered payment, OPIC Advantage Plus allows up to five years, the Mortgage Plan allows up to 10 to 20 years’’, Odusolu stated.
He said that all profiled applicants must comply with mortgage processing rules, as the plans has zero tolerance for default, encouraging aspiring owners to approach any branch of OPIC and GMB, saying, they could access the houses at New Makun City, Sagamu, MTR Gardens, Isheri and the newly introduced Acacia Grove in Magboro.